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June 15, 2024
Question

How do you create a new account

  • June 15, 2024
  • 1 reply
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We purchased a truck through the company. How do I add to quickbooks

1 reply

June 15, 2024

Certainly, kerry. Allow me to walk you through the process of adding your purchased to your asset account in QuickBooks Online.

 

Adding your newly purchased truck to QuickBooks Online (QBO) requires you to create a new asset account on your chart of accounts. This account records any resources your company owns that provide value to your company. 

 

In QuickBooks Online, every entry falls into a particular category. Fixed Assets in QuickBooks Online represent items purchased for long-term use, typically including equipment, machinery, land, and vehicles. As a result, it's possible to record company vehicles and equipment (tools) as purchased assets in QuickBooks Online.

 

Here's how:

 

  1. Go to Settings and select Chart of accounts.
  2. Click New.
  3. In the Account name, enter the name of your asset account.
  4. Under the Account type dropdown, select Fixed Assets or Other Assets.
  5. In the Detail type dropdown, select the option that describes your asset.
  6. Enter the Opening balance and starting date if there's any.
  7. Once done, click Save.

 

While doing this, I also recommend consulting an accountant for additional guidance on posting the correct accounts or the right category of the entry. This way, you're able to make sure that your account stays accurate.

 

If you encounter any difficulties managing your accounts, please don't hesitate to let me know by leaving a comment below. I'm available and prepared to help you whenever you need it.